Quote from: Yakamoto on April 26, 2019, 03:26:47 AM

Bitcoin definitely has a use as a store of value for people in countries like Venezuela, it might have additional practical applications for other countries, however, they would be somewhat more limited. Especially when the country doesn't have reliable internet access, or at least lacks an infrastructure network to maintain uninterrupted daily activities. If employers and their employees can come to an agreement on the type of pay they receive, Bitcoin might be substantially better than the fiat alternative, doubly so in inflation-prone nations.

That would be ideal, but doing that has to be under-wraps, as the only legal payment for employer and employee here is either the garbage fiat or the garbage centralized token and neither is wanted.

Next best is getting the garbage fiat and exchange it for bitcoin asap, and then when you need to buy things, change it to fiat for the smallest possible amount. Of course the major volume of transactions are not people using it to survive hyperinflation, but those trading who are mostly outside the country, as people within the country are too impoverished for this.

Of course this all breaks if internet or power fails, which is sadly becoming more and more frequent. March was a nightmare and things are looking very grim on a national scale.

With the economy destroyed as it is, no jobs within the country are worth getting at this point, but the de-facto gov wants to take a cut from any money coming from abroad people are struggling to obtain to survive. So naturally, ways for avoiding the State meddling are sought by the people.